The Riverview Hope Campus has Sept. 30, 2012, in its sights.
That’s the day the Old Fort Homeless Coalition (OFHC) hopes to close on the property at 301 South E Street (formerly Riverside Furniture), which could become the campus designated for the integration of homeless services.
Plans for the campus have undergone a number of changes since the start of 2012.
Originally slated at 142,000 square feet, the size reduced considerably to 30,000 square feet when the OFHC was considering a machine shop property at 320 South E Street just last month.
(The downsize was due to the River Valley Regional Food Bank, a former partner in the campus, receiving a $2 million property donation from the Thomas F. James Family Realty Limited Partnership to move in to the former Price-Cutter supermarket at 1617 Zero Street in March 2012.)
With now a third location change to the former Riverside Furniture building, the campus could end up close to original specifications.
OFHC Vice-President Ken Pyle approached Calmo Realty and Dale White to do a commercial appraisal of the property.
Calmo/White appraised the building once before in April 2008 and determined a market value opinion of $840,000 at that time, Pyle said.
The property’s listing price is $800,000, but a final sale would be contingent on “a satisfactory Phase I Environmental Review, receipt of all grant funds, and other conditions specified in a letter of intent,” Pyle added.
The agencies associated with the Hope Campus have won around $640,000 in funding toward the project, which carries an estimated price tag of $2.282 million.
Part of the grant application process requires the applicant to specify all possible funding sources, and according to Pyle, the outstanding grant applications list is $131,336 as the expected amount needed in donations to close out funding should all pending grants be awarded.
With applications already submitted, Pyle expects decisions on approximately $710,000 in grant funding by June 2012.